As feared, the U.S. Postal Service passed a 4.3 percent exigent rate increase on Christmas Eve, delivering a lump of coal to magazines, newspapers and direct mailers.
The Postal Regulatory Commission voted for the increase on top of the annual postal rate that is capped by the consumer price index, making it the largest hike in more than a decade.
Stamps for first-class letters will go up three cents to 49 cents on Jan. 26, while bulk mail and periodicals rise 6 percent, a serious blow to mail-dependent industries.
In its decision, the PRC blamed the "Great Recession" for the increase, but rejected the USPS' request to make the increase permanent and granted the rate hike for two years.
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